<div contenteditable>
  <p>^Some text.^
    ^<img alt="Square"
        src="data:image/svg+xml;utf8,
        <svg xmlns='http://www.w3.org/2000/svg'
            width='9' height='9'>
          <rect width='9' height='9' fill='green'/>
        </svg>">|
    |More text.|
  </p>
</div>
